Shiba Inu (SHIB) Price to Clear Zero If This Trend Continues

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As an analyst with over two decades of experience in the financial markets, I have seen my fair share of market cycles and trends. However, the recent surge in Shiba Inu (SHIB) has caught my attention. The spike in trading volume and the subsequent price increase suggest a growing interest among traders, which could potentially push SHIB toward $0.0001.

Amidst a broader recovery in the crypto market, Shiba Inu (SHIB) is showing signs of optimism based on certain key indicators. For instance, over the past 24 hours, the trading volume of SHIB has significantly increased by around 64.29%, reaching approximately $371.97 million at present.

SHIB could head toward $0.0001

Most traders consider trading volume the most vital metric for valuing a particular coin. 

As a researcher, I’ve observed that a surge in trading activity often points to growing investor interest in an asset. When price uptrends are coupled with heightened volume, it signifies robust buyer confidence. This phenomenon is particularly noticeable with SHIB, given its recent 5.74% price surge over the last 24 hours.

If the current trend persists, it’s possible that Shiba Inu could drop one or more zeros in its value, potentially making one SHIB worth just $0.0001. Some experts are even speculating about a potential increase of up to three decimal places for this cryptocurrency.

According to the token’s price data from CryptoRank, the historical yield of the second-largest cryptocurrency in the meme coin category during October was approximately 213.2%.

Previously, the value of the meme token saw an extraordinary increase. Specifically, in October 2021, its price spiked by an impressive 833.6% in just one month. Consequently, the SHIB community is hopeful for a reoccurrence of such a significant price rise.

Shytoshi Kusama address claims of billion-dollar SHIB wallets 

In other updates related to Shiba Inu, the project’s main developer, Shytoshi Kusama, has spoken out about rumors swirling in the community concerning supposed owners of SHIB wallets worth billions. He encourages anyone to fact-check these claims before accepting them and even provides a straightforward way to validate the information.

Initially, request the presumed owner to pick a random number that falls within the range of 1 to 100. Afterward, reveal the chosen number and subsequently transfer the specified quantity of SHIB tokens from the declared wallet to a different wallet address.

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2024-10-14 19:10